●JV Fund on Asia-Focused Projects
Block.one, a blockchain software developer of EOSIO, announced a partnership with blockchain veterans Michael Cao, the founder of a blockchain mining facility in U.S, and Winnie Liu to form a USD 200m JV fund, EOS Global.
EOS Global would make strategic investments in Asia-focused projects which use EOSIO.
Block.one CEO Brendan Blumer was cited as saying that Block.one is delighted to welcome investments from Michael and Winnie’s fund that would help EOSIO to make the transformation of the digital assets space in Asia.
Michael Cao was cited as saying that the blockchain market is competitive, the speed, scalability and usability of the EOSIO open-source platform would boost rapid and radical innovation.
EOS Global fund follows previous announcements of EOS VC partnerships with Finlab AG, Galaxy Digital, and Tomorrow Blockchain Opportunities. The new fund is the fourth injection of capital through Block.one’s EOS VC initiative which now totals USD 600m. Block.one has made an initial commitment to deploy USD 1bn in partnership with VC investors to support development on the EOSIO platform.
EOS VC would expand its global reach through partners to offer EOSIO projects international access, Blummer added.
Block.One’s cryptocurrency EOS, which is listed on Binance,Bitfinex and Bithumb, has a market cap of about USD 460m.